Company Taking e bills for accounting
This query is : Resolved
03 February 2009
Can anybody please clarify the provisions of Income Tax Act, Companies Act and other allied laws on following
a)Company Taking only e bills for accounting, employee claims like (Mobile bills, fuel bills, telephone , other claims)
Auditors perspective, Tax Department perspective
a)Company Taking only e bills for accounting, employee claims like (Mobile bills, fuel bills, telephone , other claims)
Auditors perspective, Tax Department perspective
03 February 2009
Company can take e bills only for a limited purpose of updating the accounts for daily management information sytem.
But for audit and tax department purpose original invoices should be there. All acts says you have to maintian the originals for respective number of years.
Otherwise you cannot claim vat, central excise and expenditures for purchases etc.
But for audit and tax department purpose original invoices should be there. All acts says you have to maintian the originals for respective number of years.
Otherwise you cannot claim vat, central excise and expenditures for purchases etc.
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